apple has investors and traders asking . "what's next" ?? as its big show gets underway... in today's cover story...why microsoft's ex-ceo is making a full court press for nba action.... plus... the reality of how obamcare is playing out in the lives of americans. and.... the secrets that the cosmetics industry does not want you to know.... first business starts now! good morning! i'm angela miles. it's monday, june 2nd in today's first look: the month of june starts off with dow and s&p at fresh highs (sound dissolves into chart)

both made gains on better than expected manufacurting numbers coming from the midwest. the nasdaq however, lost ground falling 5 points. gold dropped 8 dollars and oil 73 cents. valeant pharamaceuticals plumps up its offer for botox maker allergan from 49 billion to 55 billion... allergan shares shot up 6%, the ftc rules men's wearhouse and joseph a bank are suited for their proposed merger. a new low cost airline people express is ready for takeoff with service that begins this month. trader: scott shellady, ceo of

bull reef brokerage, tjm investments is here to tell us what is on his plate, good morning scott. good morning. is the stock market going to be doomed in june? you will probably have some pundits calling for that and that is sell in may and go away or sell in the summer and go away, so far it has not done you very well. both the bond market rallied and the stock market is rallied and i think because there's nowhere else to put the cash right now and the state of the economy, you will see both of those levitate all summer long. we had a big jobs reveal happening at the end of week, what do you anticipate? i think expectations are round you'll to hundreds. we need to start printing something higher than that 250 to 300 to really get our foot on the gas. maybe then you get to see that treasurer market sell-off and those yields rise. but if we only do an expected 220 or 200

i think we're in for more of the same again for another month waiting to see if things get better. what is happening down on the form with crops? right now at the beginning of the year people were worried because we saw animals marching to like to. the rain has stopped and i think the sun has came out and things look pretty good. we have seen a lot of selling pressure on those crops in the other room and i think that that will continue to be the case until we get something hot and dry this summer to kind of build in the base and give it a boost. thank you and have a great day. you too. apple ceo tim cook takes the stage today at the tech giant's worldwide developers conference. apple is known for rolling out hot new innovations at the annual event. this year, tech watchers are already counting up the products "not" likely to launch at the big show including the iphone 6, apple tv, and smartwatch. "we tend to get overexcited about the developers conference, primarily because a lot of people expect big things from it, but apple typically doesn't do big things at it, so i think it would be a bigger suprise if they did launch

something here than if they didn't." tech analyst rob enderle also says the show is for apple to get its' developers excited about new technology, and the actual product launches.. come later. he says investors should expect to hear more on apple's 3 billion dollar acquisition of beats electronics. it could also launch an update to siri ... as microsoft gets ready to roll out siri's competitor it maybe a tense week at walmart... chuck coppola joins me with more.. angie, walmart faces fire in the days leading up to its shareholder meeting this week. nationwide protests for higher wages have plagued the retailer, as well as criticism over executive pay packages, and foreign bribery scandals. however, those issues will be cast aside in the friday meeting, according to ken perkins, analyst at morningstar. "they're doing a lot of the right things and as things normalize, they should continue to drive their growth forward and should be able to remain a pretty big powerhouse not only in the grocery space, but in retail in general." perkins predicts walmart will focus on e-commerce and performance of its newer format of smaller neighborhood grocery

stores. the seattle city council will cast what could become an historic decision today on wages. the council is set to vote on raising the minimum to $15 dollars per hour. low wage workers and activist groups around the nation are calling for corporations to raise pay. if the measure in seattle is approved... businesses with more than 500 employees would be required to pay workers $11 per hour starting next april and $15 by 2017. the new rate would become the highest of any major city in the nation. business owners say the higher wage will force them to raise prices on products and food they sell. history could be made today.. as the seattle city council votes on raising the minimum wage to $15 dollars per hour. in today's cover story---why would former microsoft ceo steve ballmer bid two billion dollars for the l-a clippers--roughly 400-million more than the nearest bid? some might call it the financial equivalent of coalition forces 'shock and awe" assault on baghdad, 11 years ago. first of all, steve ballmer, who retired as microsoft's ceo four months ago, has 20-billion

dollars, according to forbes magazine. two billion for the l-a clippers is 10% of his net worth and a lot more than the 12-million dollars donald sterling paid for the team 35 years ago. secondly, ballmer's tried three times to buy an nba franchise and instead of moving to seattle, where ballmer lives, each time, the team's gotten a new arena and/or owners committed to keep the team in milwaukee, minneapolis or sacramento. some see ballmer's microsoft background put to marketing the clippers globally. but perhaps the biggest reason ballmer bid 400-million and 800 million more than the second place and third place bids, sports marketing professionals say its too much to overcome with a counter-bid. and too much for even donald sterling

to refuse. sterling's wife, shelly, asserting that she is sole-trustee accepted ballmer's bid on behalf of the sterling family trust. all along, the nba preferred a voluntary sale of the clippers after league commissioner adam silver banned donald sterling from the n-b-a for life for racist comments made in a private conversation that was taped and made public. trouble is in the house for jp morgan chase. the city of los angeles accuses the bank of steering minorities-- into risky home loans they could not afford. the city claims it triggered a wave of 200,000 foreclosures that ruined property values and the city's finances.

jp morgan plans a vigorous defense. while also stating: while the downturn was beyond our control, we will continue to partner with los angeles in the recovery." investors are eyeing "spanish style housing." there's new life in spain's housing market as foreign investors swoop in. back in 2008-- the nation plunged into recession-- following a housing bubble that burst.. now, investors worldwide are said to be taking advantage of super low housing bargains. fitch ratings predicts home prices in spain won't start to rebound until 20-15. siemens c-e-o is clarifying job cutting comments. at an investor conference, siemens came out with plans to shut down four sections of the company, amounting to more than 11-thousand jobs cut. now siemens' chief executive says that number was an "incorrect interpretation" of his remarks. siemens hopes to save a billion dollars per year by restructuring , an uknown number of jobs will be at risk. the government of argentina's agreement to pay back nearly ten-billion dollars to 19-

countries over the next five years could boost international trade. the countries, known as "the paris club" loaned a half- trillion dollars since the 19- 50's to countries in financial trouble. now, argentina's economy is said to be strong enough to sustain payments. argentina has been indebted to the group since 19-56 and has renegotiated payment plans five times. as president obama prepares epic enviornmental standards for power plants. a controversial coal plant gets clearance in kansas. sunflower electric power has been given the green light by state regulators to build a 2.8 billion dollar coal plant. regulators approved a blueprint of the factory, which will follow pollution control limits. environmentalists say there is no need for a second coal fired power plant in the area. kanasas lawmakers contend the

plant will create jobs. lawmakers are demanding the justice department launch a full investigation into the department of veterans affairs. it follows the resignation of a va official amid a growing scandal over failures in the veteran's healthcare system. eric shinseki stepped down as head of the va friday, calling the scandal "a breach of integrity." eric shinseki, former veteran affairs secretary "so i will not defend it because it is indefensible. but i can take responsibility for it, and i do." president obama named sloan gibson the tempoary head of the v-a on friday. gibson has been at agency for just three months. before that he ran the united service organizations. prior to coming to washington, sloan spent over 20 years in the banking industry. a lawsuit is already being launched at the proposed mega merger between directv and at&t. the media companies made the $48 billion dollar deal public about 2 weeks ago. according to deadline.com-- a class action lawsuit as been filed by a share holder who says the price at&t is paying is too low... considering directv's long term growth potential.

amazon may soon carry a new tune... buzzfeed reports amazon is adding a music streaming service for its "prime" customers. it will compete with spotify and pandora -- however amazon will reportedly only stream older tunes, and less newer music. its the latest additon to the prime package that includes video streaming and ebook lending. the first smartphone factory in the u.s. will close its doors by the end of the year. the factory in fort worth, texas opened to great fanfare about a year ago. the majority of phones are assembled in asia. however, the google motorola mobility smartphones coming out of the fort worth plant were allowed to be stamped with "made in the usa" because it was final step in the manufacturing process. the factory employs 700 people. permanet hang up still to come will a stock split have average

investors rushing to buy apple! plus.... is the bickering over when it comes to health care reform? and....our next guest says the beauty industry... has an ugly secret... stay with us! real issues they're dealing with

can be awkward and uncomfortable. but when their behavior changes, it's time to act. because if we don't, our families and relationships will suffer. listen to the veterans in your life and show you care. it matters. when you recognize a veteran is in crisis, call the veterans crisis line at 1-800-273-8255 and press "1".

as americans attempt to find beauty or anti-aging miracle cures in a jar..the cosmetics industry has bloomed into a $170 billion dollar business. joining us by skype this morning.. steve dworman founder of from the lab-good morning -- what is the big secret about cosmetics industry that people do not know? i have a couple of them before you and they will be i opening for the women out there end and that are on duty junkies. the first one is, that the major cosmetic companies the international beauty companies do not necessarily develop

their own products or their own ingredients. they licence them from major beauty labs that are mostly in switzerland, italy, and france. so the major products that you see there even though they have their names on them were not necessarily created by them. so what we have done is we have made agreements with these very same labs to see the products at exactly the same time that the majors do. here is another secret, the majors take an average of two to four years to bring a new product or new ingredient to the market. it might be time they go through packaging, consumer research, and advertising we bring the product to market six months after we see it. how much are americans overpaying for these cosmetic products just because of the packaging and the research? let me put it to you this way. we're bringing women out their products directly from the lab themselves. they're not paying

large packaging fees, they are not paying retail up charge fees. they're buying the products from us on an average of 80% less than they will pay in stores and they're giving them an average of 18 months to two years before when they hit the market. one more question. these products basically could be great products, there are no problems to air its just that it takes so long for them to actually get into the stores? yes. in fact we brought the ingredient of the year, was voted on by an impartial panel of scientists. we were the first to bring it to market and our product to our members was 29.95 if you were to buy that product in the store and one company has just came out with one it is a hundred and $25, but you can give these kinds of things every month from the lab dot com thanks for letting us know. that is steve dworman founder of from the lab. thank you very much. coming up.... apple shares could be for a dicey week. .... plus... now that obamcare has taken hold, a checkup on how the health care changes are going. bill moller has it all . that's after this break. here we are at the first year

mid point of obamacare - which has dramatically reformed the american insurance and health care industry. so, a good time for a status report. shane cruz is the chief technology officer at gohealth - an award-winning online healthcare exchange. your exchanged helped people sign up for health insurance when the healthcare.gov site was having its early stage problems - things seem to now have greatly improved. things have gotten better, there were great struggles in the beginning but we have made some progress in the right direction we were able to help a lot of people. the go health had a great technology solution, that help people buy plans that were struggling to buy when health care dot gov was having problems. now that things have smoothed out, would you say the worst is behind us?

i would say so. the first step of a long journey is to go beyond buying the insurance. people need to get their insurance card and know how to use their coverage. we're taking steps in the right direction. there is a new kaiser poll shows most americans may not like it, but they are willing to accept the fact that it is the law of the land. they want congress to stop squabbling about this health care program. i think is fair to say that this is not to be something that is repealed. is now about time to work together and figure out how to make this work for everyone. this coming november 15th the 2nd open enrollment period window will open - what should people know and who should be preparing? i think everyone needs to be ready. if they don't have insurance today than they will find out at tax time that they will have to pay a penalty for not having coverage. so people should be ready by november 15th so that they can understand what their options may be and they can figure out how to move forward. and that is how go health can help people. saw that there are actually polls that indicate that people don't think they are going to be penalized if they did not enroll. there are lot of people who are unaware of these penalties.

there're going to be filing their taxes at the end of the year in find out that they whole money back to the irs. shane cruz thanks so much! thank you. thanks bill-- after a surge in americans signing up for food stamps, the numbers are beginning to decline. research by the institute center for budget policy and priorities shows...,more americans are on better financial footing. and food stamp participation has dropped in 47 states. still to come -- is apple stock a buy after its split 7 ways.. and clues traders are watching for signs of a stock market breakout. chart talk is next real issues they're dealing with

can be awkward and uncomfortable. but when their behavior changes, it's time to act. because if we don't, our families and relationships will suffer. listen to the veterans in your life and show you care. it matters. when you recognize a veteran is in crisis, call the veterans crisis line at 1-800-273-8255 and press "1".

fresh off of his trip from nicaragua to build homes for habitat for humanity, the one and only a trader andrew keene. welcome home! thank you. i appreciate that. i loved what you did. let's talk about apple is a huge day, but what do you see in the charts here? the chart has been a runaway train. since carl an icon came out and said he was going to buy stocks has been nothing but up. every single piece of news has been positive for apple. since that came out with the beats deal, the stock is up 7%. on friday i did have a reversal day where it got to new 52-week highs a reverse off the high and sold about $12 from the highs. this week will be critical. when it does get split what happens institutional orders. we have seen big buyers come into the stocks now. once its split seventh from one, it makes a cheaper price point the market cap doesn't change, but when people think it's cheaper they come and pile into the retail investors.

what would you do? i traded apple to the short side as a day trade on friday and it worked out great. apple right here, i do not see it getting to 700 or the equivalent of 700 that was around where it peaked out before a couple of years ago. going into the announcement it usually runs in the announcement. we have the possibility of the new i-phone with a bigger screen and then they kind to tend to disappoint me then it's sales. we see that very simular, they were going to get a deal with china mobile. so i think it will run up because of the split right up until the announcement and then a couple of days from there i will be looking to put on a short position. here there only two ways to play it, long or flat. what do you think about the overall stock market? are you long or short? i'm always long on the stock market. i should not say always, but for the last past two years. i am going to make a prediction of when we're going to peak out. technical analysis tells us that any time when we make a new all-time high, if we find a huge reversal day. if the s and p 500 futures opened up friday with the new job numbers, gets to a level that it has

never seen before, reverses and closes out on the low of the day; that's when i will be looking to take off long positions and may actually look to press short. but i'm talking about big reversals. up to 10 to 15 handles and we end up down 25 from the highs. that will be a short term top, other than that, ride the wave and we're going high. thank you very much. thank you. that's it for now-- join us tomorrow for 5 tips on how to keep the costs down your summer vacation-- and "still" have fun. from all of us at first business-- happy monday!

>> announcer: the following is a paid presentation for dermawand, brought to you by international commercial television. [♪.. >> hi, i'm lisa varga. i'm 40 years old, i've never had cosmetic surgery and i'm not afraid of high definition cameras. bring them in closer, guys. closer. good. now, do you want your skin to look as youthful, fresh and line-free as it can? well, get ready, because i'm going to share with you right now something every woman should be doing and the one thing i do every single day. what is it? well, 3-1/2 years ago, i first began using my radio frequency dermawand. why? because it delivers real results.